When will Lacerte have e-filing ready for forms K2 and K3 in the partnership module?

[L-Tuuri]

Yes, the IRS was not ready to receive the Partnership K2 and K3 forms by e-file until late March, but that was months ago now.

And yes, you can auto-attach these forms as a pdf, but that opens up potential errors on the IRS side.

So when will Lacerte be able to e-file these forms? Does anyone know if Lacerte is even working on this? 

Not to mention being able to use the RIC country code for  foreign income and taxes from brokerage accounts? The IRS confirmed this is what you're supposed to use on April 11, 2022, but Lacerte still does not have this option on their list of country codes.

[kgreen8393]

I would like to know this as well.  I have very large partnership's with over 300 partners.  These returns are required to be e-filed, but the pdf attachment for the K-3's is too large to e-file.  These returns have been sitting patiently waiting to e-file with the K-3.  This is also holding up the State returns where you must e-file the Federal first.

Is the IRS really accepting these via E-File and therefore at this point it is just a Lacerte issue or is the IRS not yet accepting E-Filed K-3's?

[L-Tuuri]

Yes, the IRS is already accepting Partnerships (but not S-Corps) by e-file with no pdf attachments.  The CCH tax software has been sending them for almost two months, although only for Partnerships under 50 partners. CCH expects to get larger partnerships to e-file by late June.

After an hour and half on the phone with Lacerte my boss got a response today that Lacerte expects to be able to e-file Partnership K2/K3 forms by June 22. Hopefully they'll meet their ETA, and won't need extra time for the larger partnerships.

[kgreen8393]

Thank you.  This is interesting information.